GST and SMSFs

Understand the GST rules for SMSFs, from setup to winding up, including property, contributions, registration and common mistakes.

In this session, we cover:

• The myth that SMSFs can’t and shouldn’t register for GST

• Is an SMSF carrying on an enterprise?

• The lifetime of a SMSF, from set up to winding down

• GST treatment of contributions, payouts, in specie distributions

• When an SMSF must, or may, register for GST

• Residential rent: input taxed, no input tax credits available

• Financial supplies: input taxed, some GST credits available 

• Buying property: margin scheme and going concern issues

• Selling fund property: GST payable or not payable

• Common SMSF GST mistakes and how to correct them